According to a research report by CITIC Securities, the Shanghai Auto Show opened this week, with new models of OEMs making their debuts, and domestic brands reshaping their brand power through intelligentization. Leading intelligent driving suppliers such as Huawei, Horizon Robotics and Momenta have been promoting their products intensively. Overall domestic demand improvement and technological growth remain the two clear investment themes for the automotive sector. The former relies on further stimulus policies and new car supply to boost demand, while the latter relies on technology iteration, customer expansion and upward revision of the wind bias.